Technical analysis by CeeJay_Trades about Symbol PAXG: Sell recommendation (1/15/2024)

New Trade: XAUUSD Short Position Entry: 2047 Stop Loss: 2050 (Tight SL) Take Profit: 2037 Technical Analysis: Initiated a short position on XAUUSD with an entry at 2047. The decision is grounded in technical analysis, specifically targeting the Fibonacci "golden zone" and leveraging the Anchored VWAP. Rationale: The Fibonacci retracement levels suggest a potential reversal in the "golden zone," and the Anchored VWAP provides an additional layer of confirmation for the short bias. Risk Management: Employing a tight Stop Loss at 2050 to manage risks, ensuring a disciplined approach to protect capital in case of unexpected market movements. Trade Strategy: Take Profit set at 2037, aligning with the anticipated downward movement. The combination of Fibonacci levels and Anchored VWAP serves as a robust strategy for this short position. Join the Discussion: For real-time updates and to discuss market insights, join our Telegram group: CeejayTrades - t.me/ceejaytrades Disclaimer: Trading involves risk, and past performance is not indicative of future results. Exercise caution and conduct thorough analysis before making trading decisions. Happy trading!Trade closed: stop reached: Unfortunately stopped out inn this trade, but may more opportunities in the week ahead! As we navigate the markets, keep in mind the golden rule – never risk more than 1% of your capital on a single trade. This simple yet crucial practice safeguards your account from undue exposure and helps you trade with prudence. #RiskManagement #CapitalPreservationTrade active: Re-entry with SL 2052, same TP.